The Secret Formula to Success: Find Wealth, Stability, and Happiness
In order to find wealth, success, security, and happiness in your life you will need to understand how to be highly effective at achieving your goals. Wait… Backup. First, you must plan your goals.
What do you want from the world? What does your desired lifestyle demand from you?
Many people say, “I want to be a millionaire.” I would challenge you to ask a different set of questions.
“What kind of person becomes a millionaire? What are their values, paradigms, philosophies, and behaviors? What actions do they partake in? Which actions do they avoid?”
When we become a student of study in the desires of our dreams, it becomes impossible to thwart our progression to our goals. If I had to create an equation for the formula of success it would look something like this:
Success = Planning + Passion + Action / Discipline + Character + Faith
However simply knowing that equation isn’t going to help you in the pursuit of all the good that life has to offer. Here are some key steps that are necessary to reach your pinnacle of success.
Step #1 Focus on your goals no matter your current situation and circumstances. Most millionaires are 1st generation affluent, this means they started from humble beginnings. You cannot allow your current circumstances define your opportunity. The opportunity for you is endless, you simply need to make a choice to change your circumstances. The first step to success begins when we refuse to be a captive of the environment in which we first find ourselves. – Mark Caine
Step #2 Seek to eliminate ignorance in areas that are required to obtain your goals. If you seek happiness study happiness, if you seek to eliminate being broke, study finance. You have to become a student! There is no growth when we fail to learn. The key to getting more is to become more. Sharpen your skill set. Whether it be higher education, building a library, listening podcasts, or research.
Step #3 Master living on 90% of your income. This can be achieved by setting up an automatic transfer with your employer or bank. Make sure to have the savings account separated from your “daily-use” bank. The key to having money is keeping some of what you earn. If you want to be successful you have to master saving some of every paycheck you earn without exception.
Step #4 Find out your net worth. Everyone who is at a meaningful level of employment should now be concentrating on improving net worth… not the next promotion. You probably already earn enough to retire a millionaire, you simply need to create wealth with what you earn. Your net worth reveals your ability to create wealth from your earnings. With the average American being 20 lbs. overweight and $10,000 in debt, the numbers don’t look promising for the average individual. You can find out your net worth by subtracting your debts from your assets (home equity, liquid cash, investments, etc.). Here is a great calculator you can use Find Out Your Net Worth. To build wealth you must be conscious of your and should be making financial decisions that improve it.
Step #5 learn the art of exceptional living. Happiness is not a place that is found when you get all of your desires. Happiness is a journey of self-accomplishments and the magical moments we share with loved ones. Happiness is a practice of accepting the seasons of life and focusing on improving what you have control over. Government, taxes, fairness and the economic are out of your control, focus on what you can! Happiness resides between boredom and anxiety. Happiness is more about stability and control, rather than money and possessions. Happiness is the practice of living well as a good and honest person who adds value to those whom you encounter. There can be no happiness without generosity and self-worth. If you are looking for happiness, it resides inside.
Step #6 Embrace the philosophy of compounding disciplines. Reading 10 pages before bed would not be life changing. How would you view that practice after a person has read 10 pages per night for three years? The same is true for any small discipline. A flower doesn’t bloom after a single watering, and that one watering means nothing in the scope that plant’s life. It is the continued daily watering that creates the flower. Small disciplines practiced consistently over large amounts of time creates extraordinary results. Consistency is the key to success. This is the most important key to the wealth formula, as this perfectly describes what is needed for successful investing, saving, and self-development.
Step #7 Find and pursue your passion. Anyone can earn a living in America. You shouldn’t focus on daily workflow and end you productivity for the day by coming home to relax. If you aren’t participating in your desires, then you are missing out on the wonders of exceptional living and true happiness. Make time for your goals, dreams, and passions. It will be the best investment you can ever make!
Step #8 Write out your goals on paper. A goal is only a wish while it is in your head. It becomes real the moment we write it down. You should have personal goals, career goals, and a financial plan. Every one of these goals requires steps on how to achieve and a deadline to achieve. Be sure to write several one, three, and five-year goals in each of those categories.
Wealth, success, and stability are within reach to all those who live in the great old, “US of A”. The life you live is a choice defined by your actions, or the lack thereof. If you seek success, it requires more than a wish or desire.